Earnings Call Transcript

INOX CVA HISTORICALLY FUTURISTIC IIL:SEC:SE:INTM:275 Date: 10th August, 2026 Corporate Relations Department The Manager Listing Department BSE Limited National Stock Exchange ofIndia Ltd 1st Floor, New Trading Ring Exchange Plaza', C-1, Block G, Rotunda Building, P J Towers Bandra - Kurla Complex, Dalal Street, Fort Bandra eEl, Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 544046 Symbol: INOXINDIA Subject: Transcript of Conference Call with the Investors / Analysts. Dear Sir/Madam, The Company had organized a conference call with the Investors/Analysts on Tuesday, 4th August, 2026. A copy of Transcript of conference call held with the Investors/Analysts is enclosed herewith and the same is also uploaded on the Website of the Company. You are requested to take the same on your record. Thanking you. Yours faithfully, For INOX India Limited Jaymeen Patel Company Secretary & Com.j)li·ItI!!~:m'fi INOX INDIA LIMITED ClN No.: L99999GJ1976PlC018945 9th Floor, KP P iatina, Race Course. Vadodara • 390 007. Gujarat India. 1T el.: +91265 6160100 1F ax: +91265 23414491i nox@inoxeva.com 1w ww.ino,eva.com “INOX India Limited Q1 FY27 Earnings Conference Call” August 04, 2026 MANAGEMENT: MR. DEEPAK ACHARYA – CHIEF EXECUTIVE OFFICER --INOX INDIA LIMITED MR. SUNIL LAVATI – VICE PRESIDENT, ACCOUNTS AND FINANCE AND HEAD, INVESTOR RELATIONS -- INOX INDIA LIMITED MODERATOR: MR. ABHINAV NALAWADE – ICICI SECURITIES Page 1 of 17 INOX India Limited August 04, 2026 Moderator: Ladies and gentlemen, good day, and welcome to INOX India Q1 FY27 Earnings Call. As a reminder, all participant lines will be in listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Abhinav from ICICI Securities. Thank you, and over to you, sir. Abhinav Nalawade: Thank you, Atharva. Good morning to all. On behalf of ICICI Securities, I welcome you all to the Q1 FY27 Earnings Call of INOX India Limited. Today, we have with us from the management, Mr. Deepak Acharya, CEO; and Mr. Sunil Lavati, VP, Accounts and Fiinance & Head Investor Relation. We'll begin with the opening remarks from the management, which will be followed by Q&A. Thank you, and over to you sir. Deepak Acharya: Thank you, Abhinav ji. Good morning, everyone. I welcome all our stakeholders, investors, analysts, friends to the Q1 FY27 Earnings Conference Call of INOX India Limited. I trust you had the opportunity to review our financial results, earnings release and investor presentation, which are available on the stock exchanges as well as on our website. Joining me on the call today is our VP, Accounts and Finance & Head IR, Mr. Sunil Lavati, who will later take you through the detailed financial performance of this quarter. Following which, we will open the floor for question-and-answer session. Let me begin with the overview of the global economic environment. Economic overview. The global economy continued to navigate a dynamic landscape shaped by geopolitical uncertainties, evolving trade policies and an increased focus on energy security. While global supply chains have become more resilient over the past few years, regional conflicts, tariff-related developments and fluctuations in energy market continue to influence business sentiments and investment decisions across the industry. Despite these near-term uncertainties, long-term investments in clean energy, industrial infrastructure, aerospace, semiconductor manufacturing and scientific research continue to gain momentum globally. The structural growth trends are creating significant opportunity for companies with strong engineering and manufacturing capabilities. India continues to stand out as one of the fastest- growing major economies supported by robust domestic demand, sustained infrastructure spending, manufacturing-led growth and supportive policy environments. Government initiatives such as Make in India, the Semiconductor Mission, the energy transition, and increased investment in strategic sectors are opening up new avenues for advanced engineering companies like INOX India. Against this backdrop, I'm pleased to share Q1 FY27 has been another milestone quarter for INOX India. Page 2 of 17 INOX India Limited August 04, 2026 As guided in our previous interactions, we delivered our highest ever quarterly order inflow of approximately INR532 crores, taking our total order book to around INR1,686 crores, the highest in the company's history. Our export order book now exceeds INR1,140 crores, reflecting the growing global acceptance of our engineering capabilities and providing strong revenue visibility for the coming quarters. We also continued to execute projects efficiently across all our business verticals while maintaining a healthy balance between domestic and international orders. Let me now take you through the highlights across our business segments. Industrial Gas Solutions. Starting with our Industrial Gas Solutions business, the quarter witnessed several important order wins across the multiple product categories. One of the key highlights was the significant order from the space exploration industry for 8 large 1500 cubic meter cryogenic storage tanks. In addition, we secured orders for 6 more cryogenic tanks from the same customer, further strengthening our long-standing association with the global space exploration industry. More importantly, these repeat orders reflect the confidence that leading global customers place in our engineering capabilities. Today, INOX India is increasingly being recognized not only as a cryogenic equipment manufacturer but also as a precision engineering partner for global aerospace ecosystem. The semiconductor segment also recorded encouraging progress during the quarter. We received orders for storage and transport equipment for semiconductor manufacturing facilities coming up in Dholera. While these initial orders are relatively modest in size, we believe they represent the beginning of significant long-term opportunities as India's semiconductor ecosystem continue to evolve. Our disposable cylinder business continued to perform well. After crossing the milestone of 2 million cylinders during FY26, we have continued to receive healthy repeat orders from customers across the global market. Similarly, our Cryoseal and liquid cylinder business continued to gain strong traction in India. We expanded our dealer network and further enhanced manufacturing automation, enabling us to increase production capacity to meet the growing demand as industries increasingly transition from conventional gas cylinders to more efficient liquid cylinder solutions. LNG Solutions. Moving to our LNG Solutions business, we continue to witness encouraging development across the multiple applications. The decline in the global LNG prices has improved the economic viability of LNG as a transition fuel, resulting in renewed momentum in LNG fueling infrastructure. Page 3 of 17 INOX India Limited August 04, 2026 During the quarter, we secured multiple orders from the LNG fueling stations from the customers, including Sabarmati Gas, Ultra Gas, and BPCL. We also received healthy orders from LNG semi-trailers, where we continue to maintain leadership position in Indian market. Our Bahamas mini LNG terminal project is progressing well. The first batch of large storage tanks has successfully reached the project site, and installation activities are underway. We are also encouraged by the development of broader LNG ecosystem in Bahamas with additional satellite station opportunities coming around the initial project. This validates the success of the first installation and creates further business opportunities for the company. After the Bahamas order, we already received 2 additional ord [Showing first 8,000 characters — download PDF for full document]